Singapore shares on track for biggest gain in 1 month

SINGAPORE, March 24 (Reuters) - Singapore stock index rose
about 1 percent on Monday, on course for its biggest daily gain
in more than a month, as regional markets shook off the gloom
from weak Chinese manufacturing data.

The benchmark Straits Times index rose about 1
percent to 3,103.05 as of 0500 GMT, after finishing the previous
week nearly flat. MSCI's broadest index of Asia-Pacific shares
outside Japan was up nearly 0.5
percent.

Conglomerate Jardine Matheson Holdings Ltd led the
index, rising as much as 4.8 percent to an intra-day high of
S$58.20, putting it on track to its biggest daily gain in more
than three weeks. Its subsidiary Jardine Strategic Holdings Ltd
rose nearly 2.4 percent.

Among small caps, shares of Albedo Ltd rose more
than 23 percent when trading resumed on Monday, after it said
the proposed acquisition of the company by Malaysian businessman
Danny Tan had not been aborted.

However, Albedo said Tan's Infinite Rewards Inc had
requested the agreement to be mutually terminated.

Trading in the stock was suspended last week after a
Malaysian daily reported that Tan has pulled out of talks to buy
Albedo.
(Reporting by Brian Leonal; Editing by Anand Basu)